Post Office Rd Scheme: Every person invests somewhere to save his money, in which post office has been the first choice of people for years, because it gives good profit without risk.
At present, many schemes are running on behalf of the post office. By investing in which you can earn good profit. If you are also interested in investing in the post office, then the RD scheme of the post office can be a good option for you. If you invest in it, then you can get very good returns.
RD Post Office Savings Scheme
RD Post Office Savings Scheme is one of the popular schemes run by the post office. You can get good benefits by investing in it every month. This scheme gives benefits at a very good interest rate. If you invest in this scheme, then you have to invest in it every month for 5 years.
When this period is completed, the benefit of maturity is given by the post office. To invest in this scheme, your age should be 18 years or more. You can start investing in the post office with only Rs 500. There is no maximum investment limit in this. If you invest in this scheme, you can get interest rates of about 6.70%. In this, the interest rate is calculated on a quarterly basis but it is paid on an annual basis.
Also Read: Retirement Fund: How to prepare retirement fund, stay assured for the future?
Benefits of RD investing:
- Loss free: Post office is a government run scheme, hence your deposits are completely safe in it.
- Savings: RD allows you to deposit a fixed amount every month, which helps in developing the habit of regular savings.
- Interest Rates: The interest rates offered in RD give better returns than other savings schemes in the market.
- Tax Benefits: Interest earned on RD is completely tax-free under Section 80TTA of the Income Tax Act, 1961.
- Freedom of choice: You can choose the deposit amount and deposit period as per your needs.
- Loan Facility: You can avail a loan against your deposits.
- Planning: RD helps you set aside money for all your financial plans.
Documents required to invest in RD scheme
1. Form for opening a post office account (you can get it from your nearest post office)
2.Two passport size photographs (with signature)
3. For address and identity proof: Aadhaar Card, Passport, PAN Card, Form 60 or 61 under section 60 or 61 of the Income Tax Act, 1961, Driving License, Voter ID Card, or Ration Card (any one of these)
4. Identity proof for verification while opening account.
5. While opening the account you have to select a nominee. The nominee is the person who will receive the money in your account in case of your death.
How much profit can be made on an investment of Rs 3000
If you invest Rs 3000 every month in the Post Office RD scheme, then a good amount gets accumulated in the next 5 years. In the next five years, Rs 18,00,00 gets accumulated. On which if you get an interest rate of 6.7%, then your interest amount becomes around Rs 34,097. In this way, when the period of 5 years ends, you have a total of Rs 2,14,097 deposited with you.
